Aktualizace 1-CEE-Forint Markets Poté, co maďarská Cenbank ponechala úrokové sazby beze změny, což naznačuje rizika CPI

 (Updates with Hungary cenbank decision)
    By Anita Komuves
    BUDAPEST, Feb 23 (Reuters) - The Hungarian forint firmed on
Tuesday after the central bank left its base rate unchanged at
0.6%, as expected, and said that inflation was expected at
around 4% temporarily in the spring months.
    The forint was 0.13% stronger on the day by 1459
GMT and trading at 358.60 per euro as the currency regained some
ground after of losses earlier in the day and in the previous
session. 
    "Emphasizing the risk of higher inflation made the bank
sound more hawkish than last month," a Budapest-based FX trader
said.
    "This has been priced in by the market to some extent,
however, the forint could strenghten as far as 355 this week." 
    Bond yields did not immediately react to the NBH's statement
as it did not talk about specific steps against higher
inflation, a fixed income trader said. 
    Hungarian government bond yields are mostly affected by a
rise in U.S. treasury yields now and rose about 8 basis points
this morning, he said. 
    Markets in the CEE region were also eyeing U.S. Federal
Reserve Chairman Jerome Powell's testimony before Congress later
in the day. 
    Investors were watching Powell's speech for comments on a
higher inflation outlook and a rise in U.S. treasury yields that
has driven yields higher in the CEE region as well. 
    Commerzbank said that besides rising yields in the U.S., the
Czech crown could begin feeling the impact of the pandemic as
well as the country is among the worst-hit by the coronavirus
amid a massive third wave.
    The crown edged down 0.07% to trade at 25.913 per
euro. 
    Czech bonds have stayed under pressure as the government's
borrowing target grows this year to finance a pandemic-hit
budget and also on expectations the central bank could begin
raising interest rates later this year.
    For the first time ever, the Czech 10-year yield has firmly
risen above the Polish benchmark since January, with the spread
now around 26 basis points.
    Elsewhere, the Polish zloty was 0.20% weaker at
4.5065 per euro. Rate setter Kamil Zubelewicz said that an
increase in unemployment could encourage the central bank to cut
interest rates, adding that he did not support rate cuts.
  
    Poland's registered unemployment rate rose to 6.5% in
January 2021 compared to 6.2% in December 2020.  
    
                    CEE      SNAPSHO   AT                       
                    MARKETS  T        1559 CET           
                             CURRENC                            
                             IES                         
                             Latest   Previous  Daily    Change
                             bid      close     change   in 2021
 EURCZK=  Czech     <EURCZK  25.9130   25.8950   -0.07%   +1.22%
          crown     =>                                   
 EURHUF=  Hungary   <EURHUF  358.600  359.0500   +0.13%   +1.15%
          forint    =>             0                     
 EURPLN=  Polish    <EURPLN   4.5065    4.4977   -0.20%   +1.17%
          zloty     =>                                   
 EURRON=  Romanian  <EURRON   4.8750    4.8760   +0.02%   -0.21%
          leu       =>                                   
 EURHRK=  Croatian  <EURHRK   7.5800    7.5715   -0.11%   -0.43%
          kuna      =>                                   
 EURRSD=  Serbian   <EURRSD  117.460  117.5600   +0.09%   +0.09%
          dinar     =>             0                     
          Note:     calculated from             1800            
          daily                                 CET      
          change Latest   Previous  Daily    Change
                                      close     change   in 2021
 .PX      Prague             1043.42  1042.640   +0.07%   +1.58%
                                             0           
 .BUX     Budapest           42967.5  43457.15   -1.13%   +2.04%
                                   8                     
 .WIG20   Warsaw    <.WIG20  1906.50   1961.62   -2.81%   -3.91%
                    >                                    
 .BETI    Buchares           10205.9  10260.09   -0.53%   +4.08%
          t                        3                     
 .SBITOP  Ljubljan  <.SBITO   956.44    953.52   +0.31%   +6.17%
          a         P>                                   
 .CRBEX   Zagreb    <.CRBEX  1832.42   1837.50   -0.28%   +5.35%
                    >                                    
 .BELEX1  Belgrade  <.BELEX   758.04    753.96   +0.54%   +1.26%
 5                  15>                                  
 .SOFIX   Sofia     <.SOFIX   497.84    498.45   -0.12%   +11.24
                    >                                          %
                                                                
                             Yield    Yield     Spread   Daily
                             (bid)    change    vs Bund  change
                                                         in
          Czech                                          spread
          Republic                                       
 CZ2YT=R    2-year  <CZ2YT=   0.5400   -0.0620   +123bp    -7bps
 R                  RR>                               s  
 CZ5YT=R    5-year  <CZ5YT=   1.1650   -0.0180   +177bp    -5bps
 R                  RR>                               s  
 CZ10YT=            <CZ10YT   1.5900   -0.0220   +189bp    -7bps
 RR       10-year   =RR>                              s  
          Poland                                                
 PL2YT=R    2-year  <PL2YT=   0.0970   -0.0160   +078bp    -2bps
 R                  RR>                               s  
 PL5YT=R    5-year  <PL5YT=   0.7110    0.0090   +132bp    -2bps
 R                  RR>                               s  
 PL10YT=            <PL10YT   1.3550    0.0430   +165bp    +0bps
 RR       10-year   =RR>                              s  
                    FORWARD                                     
                             3x6      6x9       9x12     3M
                                                         interba
                                                         nk
          Czech     <CZKFRA     0.44      0.65     0.88     0.36
          Rep       ><PRIBO                              
                    R=>                                  
          Hungary   <HUFFRA     0.92      1.07     1.22     0.76
                    ><BUBOR                              
                    =>                                   
          Poland    <PLNFRA     0.26      0.30     0.35     0.21
                    ><WIBOR                              
                    =>                                   
          Note:     are for ask                                 
          FRA       prices                               
          quotes                                         
          *********************************************         
          *****************                              
 


 (Additional reporting by Jason Hovet in Prague; Editing by
Giles Elgood)
  
 
 
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